Rhumbline Advisers Acquires 99,784 Shares of Franklin Street Properties Corp. (NYSE:FSP)

Rhumbline Advisers increased its holdings in Franklin Street Properties Corp. (NYSE:FSP) by 3,118.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,984 shares of the company’s stock after acquiring an additional 99,784 shares during the quarter. Rhumbline Advisers owned about 0.10% of Franklin Street Properties worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Franklin Street Properties by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,236,758 shares of the company’s stock worth $18,697,000 after acquiring an additional 25,568 shares during the last quarter. Private Management Group Inc. raised its holdings in Franklin Street Properties by 10.5% in the first quarter. Private Management Group Inc. now owns 6,578,799 shares of the company’s stock worth $14,934,000 after buying an additional 623,685 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Franklin Street Properties by 25.9% in the first quarter. Acadian Asset Management LLC now owns 2,225,376 shares of the company’s stock worth $5,050,000 after buying an additional 458,235 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Franklin Street Properties during the first quarter valued at approximately $2,796,000. Finally, Bank of New York Mellon Corp increased its position in shares of Franklin Street Properties by 1,005.2% during the second quarter. Bank of New York Mellon Corp now owns 299,743 shares of the company’s stock valued at $459,000 after acquiring an additional 272,622 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

Franklin Street Properties Stock Performance

Shares of NYSE FSP opened at $1.70 on Monday. The firm’s 50-day moving average price is $1.68 and its 200-day moving average price is $1.81. Franklin Street Properties Corp. has a 52-week low of $1.47 and a 52-week high of $2.72. The company has a market cap of $175.83 million, a PE ratio of -3.04 and a beta of 0.82. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.44.

Franklin Street Properties (NYSE:FSP) last announced its earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). Franklin Street Properties had a negative net margin of 52.85% and a negative return on equity of 10.06%. The company had revenue of $30.83 million for the quarter. As a group, analysts anticipate that Franklin Street Properties Corp. will post 0.13 EPS for the current year.

Franklin Street Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, July 19th were given a dividend of $0.01 per share. The ex-dividend date was Friday, July 19th. This represents a $0.04 annualized dividend and a yield of 2.35%. Franklin Street Properties’s dividend payout ratio (DPR) is -7.14%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Franklin Street Properties from a “sell” rating to a “hold” rating in a research note on Saturday.

Franklin Street Properties Company Profile

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.